:00:00. > :00:07.This is Business Live from BBC News with Sally Bundock
:00:08. > :00:12.US president-elect Donald Trump says Britain will be at the front
:00:13. > :00:15.of the queue when it comes to striking a trade
:00:16. > :00:34.Live from London, that's our top story on Monday 16th January.
:00:35. > :00:42.US president-elect Donald Trump says UK 'doing great' after Brexit vote
:00:43. > :00:47.but he threatens a huge tariff on BMW cars imported from Mexico.
:00:48. > :00:53.Plus, prosecutors in South Korea are seeking the arrest
:00:54. > :01:00.of the head of Samsung, who's accused of bribery.
:01:01. > :01:05.And we have the latest on the markets where the pound has
:01:06. > :01:17.And we'll be getting the inside track on the world of events apps.
:01:18. > :01:20.They're great for their users but is it actually possible to make
:01:21. > :01:28.We'll be speaking to the boss of Revl This weekend the owner
:01:29. > :01:33.of a Tesla car ended up stranded when he relies on his
:01:34. > :01:36.Today we want to know what's your worst technology mishap?
:01:37. > :01:52.Let us know, just use the hashtag BBCBizLive.
:01:53. > :01:58.The US President Elect Donald Trump says he'll offer Britain
:01:59. > :02:02.what he calls "a quick and fair trade deal" within weeks
:02:03. > :02:06.His comments come just days before a speech by the UK
:02:07. > :02:09.Prime Minister Theresa May where she's expected to reveal
:02:10. > :02:13.further details of the country's strategy as it prepares to leave
:02:14. > :02:20.Speaking to The Times newspaper, Mr Trump said his team would "work
:02:21. > :02:23.very hard to get it done quickly and properly" and it would be
:02:24. > :02:28.Mr Trump went on to say the UK had made the right decision in leaving
:02:29. > :02:32.the European Union and that other countries were likely to follow
:02:33. > :02:39.Meanwhile, in a separate interview with the German newspaper Bild,
:02:40. > :02:44.the US President Elect threatened BMW with a 35% border tax for cars
:02:45. > :02:49.Last week, the German carmaker said it was committed to its plans
:02:50. > :02:52.to open up its new factory in San Luis Potosi, despite
:02:53. > :02:59.Let's have a listen to what the billionaire businessman
:03:00. > :03:10.said in his interview with the Times.
:03:11. > :03:18.I thought the UK was so smart in getting out. You were there and you
:03:19. > :03:23.wrote it for the front-page. You said Trump said Brexit would happen
:03:24. > :03:28.and it happened. Everybody thought I was crazy. Obama said they'll go to
:03:29. > :03:32.the back of the line, meaning if it does happen... That was a bad
:03:33. > :03:35.statement. The front of the queue? I think you are doing great. It's
:03:36. > :03:42.going great and countries want their own identity. The UK wanted its own
:03:43. > :03:49.identity but I do believe this. If they hadn't been forced to take in
:03:50. > :03:50.all of the refugees, so many, with all the problems that that entails,
:03:51. > :03:52.I think that you Dr Brian Klaas is a fellow
:03:53. > :04:08.in Comparative Politics Let us start with the British angle.
:04:09. > :04:12.He can't do a quick deal can he, when I say quick, he can't even
:04:13. > :04:17.begin to start talking for two years can he? He's one of three branches
:04:18. > :04:22.of the American government, he's not the person in charge of the economy
:04:23. > :04:28.and most deals take time to thrash out. We don't know how much latitude
:04:29. > :04:31.Britain will have while trying to figure out the parameters of the
:04:32. > :04:35.Brexit deal. While still a member of the EU Britain can't talk or
:04:36. > :04:38.negotiate a deal? Correct. There's also the question of how long that
:04:39. > :04:43.process is going to take. Beyond that, let us think about other trade
:04:44. > :04:47.deals the US has done. The TPP, which is probably dead in the water
:04:48. > :04:52.now, has been going on for eight years. These are multinational
:04:53. > :05:00.deals, so there are other countries involved, but this would be just two
:05:01. > :05:08.countries? There is no fast-track to this and this is something what
:05:09. > :05:12.happens in years and not weeks. BMW, he's been sabre rattling and BMW
:05:13. > :05:15.said they'll continue to build cars in Mexico? That is right. I think a
:05:16. > :05:20.lot of global players in the world economy are going to continue to
:05:21. > :05:25.push back because again, sabre-rattling goes both ways. It's
:05:26. > :05:30.not just that BMW could stand up to Trump but the German Government
:05:31. > :05:32.could stand up to America. This is not just something where America's
:05:33. > :05:37.President dictates the terms of trade to everyone else and they just
:05:38. > :05:44.accept it. In terms of what he's said here, do you think this whole
:05:45. > :05:49.effect tonne car industry of trying to impose tariffs, how damaging sit
:05:50. > :05:52.to the car industry itself? I think long-term it's very damaging to have
:05:53. > :05:55.a President Elect or President who is picking winners and losers and
:05:56. > :05:59.not letting companies decide on their best business interests, the
:06:00. > :06:03.best return on investments. I think over time this will end up being
:06:04. > :06:06.counterproductive. It will not make the kind of long-term economic
:06:07. > :06:12.growth that Western Europe needs. What about being able to use the
:06:13. > :06:17.trade deficit with China? He's going to try to make that a homework of
:06:18. > :06:20.his presidency. He's going to change the fundamental dynamics of the
:06:21. > :06:26.world economy. There are reasons why there is a trade deficit. The
:06:27. > :06:28.President Elect can't wave a magic wand and make incentives for
:06:29. > :06:35.businesses change radically overnight.
:06:36. > :06:40.Now, his ability to push across, you can call them protectionist, he'll
:06:41. > :06:44.call them nationalist trade stances, how able is he to bring along
:06:45. > :06:48.congress behind him to do these things. He says he can do it, but
:06:49. > :06:54.it's congress in the end that has to do it? Congress has to be on board.
:06:55. > :06:59.We have decades of Republicans standing up to this. Reagan's party
:07:00. > :07:04.was the party of free trade and in a way this will be interesting, how
:07:05. > :07:07.can he get people who've predicated their political careers on free
:07:08. > :07:11.trade on the political stage to come along with protectionist idea and a
:07:12. > :07:15.radical shift in diplomacy in terms of economics. Thank you very much.
:07:16. > :07:21.Facebook is introducing new tools in Germany to help combat the spread
:07:22. > :07:26.The world's largest social network said it would enable German users
:07:27. > :07:33.to flag up stories which appear to be fabricated.The stories
:07:34. > :07:37.will then be passed to third-party fact-checkers and if found to be
:07:38. > :07:40.unreliable, will be marked in users' news feeds as disputed.
:07:41. > :07:43.Shares of airbag maker Takata are tumbling
:07:44. > :07:46.after the company announced a deal with the US government.
:07:47. > :07:49.The Japanese firm will pay a billion dollars and plead guilty to criminal
:07:50. > :07:52.wrongdoing over its airbags, which have been linked
:07:53. > :07:58.On Friday shares rose more than 16 percent but today fell as much
:07:59. > :08:28.The news is dominated by Trump today and the fall in the pound. Also,
:08:29. > :08:34.Davos has a page. Talking about the rich people. The gathering of
:08:35. > :08:37.bigwigs they say. In Dasos. That is under way. We are live there
:08:38. > :08:42.tomorrow morning I believe. We'll cover it all week. We'll speak to
:08:43. > :08:48.some of the bigwigs. Tanya Beck is there for us. She's a bigwig. She
:08:49. > :08:54.is! Now, let us talk about what is going on in South Korea. A massive
:08:55. > :08:59.story breaking today is the news that the de facto head of Samsung
:09:00. > :09:03.has been calld into question at the end of last week. They have now
:09:04. > :09:09.asked for his arrest. Over to South Korea and let's talk
:09:10. > :09:16.to Kevin Kim. What is the latest? Samsung is believed to have signed
:09:17. > :09:21.an $18 million contract in 2015 with a company controlled by the close
:09:22. > :09:25.friend of the impeached South Korean President and prosecutors have
:09:26. > :09:31.argued that this payment was an act of bribery. The company's being
:09:32. > :09:36.investigated, whether the millions of dollars was in return for getting
:09:37. > :09:42.a merger through of two of its companies to help strengthen the
:09:43. > :09:48.family hold of Sam shuck. Last week, Mr Lei was summoned and questioned
:09:49. > :09:54.for almost 24 hours. The prosecutors now believe that they have enough
:09:55. > :09:58.evidence to request to detain Mr LLee and an arrest warrant has been
:09:59. > :10:02.filed. Give me an idea of the kind of damage that's been done here --
:10:03. > :10:06.Mr Lee. I've been reading stories of people saying it's not just damage
:10:07. > :10:10.to Samsung but it could be to the entire economy? That would be the
:10:11. > :10:16.argument that Samsung would like to make. The court has yet to accept
:10:17. > :10:22.the warrant and it has a few days to consider. If Mr Lee does get
:10:23. > :10:26.detained, it will be a big blow to the image of the company. Samsung is
:10:27. > :10:30.one of the biggest companies in the world and, for the head of the
:10:31. > :10:35.company involved in a corruption scandal would be very bad for the
:10:36. > :10:38.company. The company suffered another fiasco involving mobile
:10:39. > :10:43.phones that would explode during charging, but the news involving the
:10:44. > :10:47.head of Samsung possibly being detained could be seen to be far
:10:48. > :10:49.more devastating than the phone recall from last year.
:10:50. > :11:00.Kevin Kim thank you very much. Let us have a look at markets in
:11:01. > :11:07.Asia in general which were reacting to a great degree to what Donald
:11:08. > :11:11.Trump had to say. The markets have disappeared for some reason. The
:11:12. > :11:17.Japanese markets were down by 1%. The dollar weakening and the Yen
:11:18. > :11:21.strengthening, affecting exporters listed in Tokyo. The other big
:11:22. > :11:25.effect is in anticipation of what Theresa May is going to say in her
:11:26. > :11:32.speech this week about how the UK intends to depart in defrom the
:11:33. > :11:35.European Union. The pound is falling significantly versus the US Dollar.
:11:36. > :11:39.The FTSE 100 fairly flat at the moment. Let me hand you back to
:11:40. > :11:46.Jamie to talk some more about these markets. We are going to be talking
:11:47. > :11:53.to Jeremy Cooke Chief Economist at the World First.
:11:54. > :11:56.The pound goes down, FTSE goes up, that is normal, but it doesn't seem
:11:57. > :12:04.to be happening like that today? Not so much. We are waiting to see what
:12:05. > :12:08.is said on Theresa May's speech, we have the pound falling through
:12:09. > :12:11.Sunday into today, a speech by Mark Carney later today too. Most
:12:12. > :12:15.importantly, inflation numbers from the UK economy over the course of
:12:16. > :12:19.this week as well. We have seen a near 20% fall off the value of the
:12:20. > :12:23.pound since Brexit or since the vote for Brexit. Will we see that being
:12:24. > :12:30.represented in prices we pay in the shops. It also is to a degree isn't
:12:31. > :12:45.it, it's represented in petrol prices and energy? The protection
:12:46. > :12:50.contracts that have been Bought are starting to run out. It doesn't seem
:12:51. > :12:55.to have affected just life in Britain. We are all still going out
:12:56. > :12:59.there and spending a huge amount, especially at Christmas. Nothing
:13:00. > :13:06.seems to have changed to every day life? It will be interesting to see
:13:07. > :13:11.whether that was the last hurrah of Britain. When things get tough,
:13:12. > :13:17.Britain goes shopping. It's true. Will consumer credit pick up and
:13:18. > :13:22.will people spend the same amount of money on unsecured boar rogue. The
:13:23. > :13:26.Bank of England said that is something to watch in 2017.
:13:27. > :13:32.Interesting to hear what Mr Carney has to say because he has a
:13:33. > :13:36.tightrope to walk. The pound, inflation headed up a bit and also
:13:37. > :13:41.of course he's got into a lot of hot water with what he's been saying in
:13:42. > :13:46.the mast? They are mandated to keep prices steady -- in the past. And be
:13:47. > :13:50.independent as well? Politically independent as well which may have
:13:51. > :13:55.been an issue in 2016. If he's seeing inflation run above target...
:13:56. > :14:01.He says he's prepared to let it go higher? Run hot is the phrase they
:14:02. > :14:06.have been using, is that 2.5, 3 or 4 and when do we feel people put under
:14:07. > :14:13.pressure by price rises. Thank you very much. Jeremy is going to reveal
:14:14. > :14:18.his worst technology mishap later. I can't think of all of mine. Still to
:14:19. > :14:22.come: We'll get the inside track on the world of events apps that let
:14:23. > :14:27.you make the most of your downtime, if you have any. We'll find out if
:14:28. > :14:30.what they could do for socialising or dating apps have done for
:14:31. > :14:38.relationships with business live on the BBC News.
:14:39. > :14:42.We are talking retail in the UK. It has been dominating business news
:14:43. > :14:45.for over a week. Shop Direct, the owners
:14:46. > :14:47.of Littlewoods and Very.co.uk are the latest retailer to put
:14:48. > :14:50.out their Christmas results They reported 9% sales
:14:51. > :14:53.growth year on year - the fifth year in a row they've had
:14:54. > :14:56.a Christmas boost. Andrew Walker is in our
:14:57. > :15:07.business newsroom. So really, it is the triumph of
:15:08. > :15:12.online shopping really, isn't it? A very strong performance. 9% growth
:15:13. > :15:15.in total group sales over the seven week Christmas period. Still
:15:16. > :15:21.significant, although modest growth for the year as a whole, 2.4%. And
:15:22. > :15:29.of course, one thing that's striking about this business is that it has
:15:30. > :15:33.entirely moved away from bricks and mortar and moved away from printed
:15:34. > :15:37.catalogues which was nearly three-quarters of the group's sales
:15:38. > :15:42.and it is basically an online operation and in those sales, it is
:15:43. > :15:47.just short of 70% is actually done on mobile and as the company Chief
:15:48. > :15:50.Executive said in this statement, as consume fers reached for their
:15:51. > :15:56.mobiles over the Christmas period. That's very much a central part of
:15:57. > :16:01.their selling point is that consumers can simply go on to the
:16:02. > :16:05.mobile and order there and they are putting effort into developing
:16:06. > :16:10.interactive services, chat boxes which can provide the service that
:16:11. > :16:14.consumers want through artificial intelligence support services, more
:16:15. > :16:19.information through artificial intelligence rather than the
:16:20. > :16:25.traditional business of going into a store and asking a real flesh and
:16:26. > :16:32.blood assistant. Andrew Walker, thank you.
:16:33. > :16:37.One of the latest stories, unions holding talks over the Tube strikes.
:16:38. > :16:46.We have got unions holding talks with London Underground today aimed
:16:47. > :16:51.at averting strike action on 7th February and also the other story
:16:52. > :16:54.we've got here, the pound may surpass flash crash lose as the
:16:55. > :17:02.pound continues to go down, there are fear it is might actually go
:17:03. > :17:04.below that level of 1.18.41 against the dollar. We will watch that to
:17:05. > :17:16.see where it's going. In a wide-ranging interview
:17:17. > :17:23.with The Times, Donald Trump said leaving would be a great thing
:17:24. > :17:26.and he wanted the US to strike a trade deal
:17:27. > :17:29.with the UK as fast it could. It was more than talking about the
:17:30. > :17:39.relationship with the UK. A quick look at how
:17:40. > :17:49.markets are faring. They are reacting to that interview.
:17:50. > :17:53.BMW shares are down over 1% in Frankfurt. All the markets are down.
:17:54. > :17:58.London the least. A falling pound is good news for many companies listed
:17:59. > :18:01.on the FTSE 100. They are mainly global international companies. A
:18:02. > :18:05.weaker pound means they make more money. We are waiting to see what is
:18:06. > :18:09.going to be happening with Mark Carney who will be giving a talk
:18:10. > :18:16.later on today. The markets are in a wait and see mood.
:18:17. > :18:18.Phone-based apps have transformed everything from dating to dining,
:18:19. > :18:20.and they're now trying to revolutionise our down time
:18:21. > :18:23.as well by taking advantage of the "experience economy".
:18:24. > :18:25.In 2014 the US alone generated around 22 billion
:18:26. > :18:33.While selling these has been dominated by the likes
:18:34. > :18:38.of Ticket Master and Stubhub, a new breed of app are trying
:18:39. > :18:42.to tailor experiences to your needs and location using your smart-phone.
:18:43. > :18:48.One company that's trying to carve out a slice of this market is Revl
:18:49. > :18:50.who offer 148,000 events to their users in London.
:18:51. > :18:58.The question remains though can they actually make any money?
:18:59. > :19:00.Joining me is Brandon Stephens, co-founder of event discovery app
:19:01. > :19:14.Give us an idea about how it works? It is like the Spottedify of events.
:19:15. > :19:19.We have partnered with 600 organisations and institutions to
:19:20. > :19:23.allow them to broadcast events across the likes of trivia nights at
:19:24. > :19:29.your local pub to worldwide tours and... Can't we get that already on
:19:30. > :19:33.Time Out or any of the other, lots of apps? Time Out will filter some
:19:34. > :19:36.of the information out. They will take the things that are most
:19:37. > :19:40.interesting, but we are providing a place that you can find out anything
:19:41. > :19:47.going on at any club or pub or museum. If you want to find out
:19:48. > :19:51.about the Mere Cat viewing at the London Zoo, we'll have that. That
:19:52. > :19:56.sounds time consumer and labour intensive. How can you be across
:19:57. > :20:00.everything? With 148,000 events, that is a lot of information. You
:20:01. > :20:06.can organise the app so that you find, you take your favourite pubs
:20:07. > :20:10.and your favourite clubs... How do you physically make it happen? So we
:20:11. > :20:14.are partnering with 17 different ticketing agencies and they are
:20:15. > :20:18.providing us with a huge range of content and we are partnering with
:20:19. > :20:22.the pubs, clubs and museums so, the National Gallery, the British Museum
:20:23. > :20:25.and the Houses of Parliament are uploading events and that open
:20:26. > :20:28.platform where anybody can publish events is what builds this list.
:20:29. > :20:33.That's all right for big organisations and big chains, but
:20:34. > :20:37.what about my local pub which is just having a quiz night, can I find
:20:38. > :20:41.out about that? You can. It depends if it puts the information into your
:20:42. > :20:45.system? We are going out and partnering with all these guys. As
:20:46. > :20:49.an app that launched a week ago, we have been able to bring this
:20:50. > :20:52.critical mass of partners to put together the content. How do you
:20:53. > :20:56.make money? Mainly through advertising. With a comedian or
:20:57. > :21:01.comedy promoter wants to list their event at the top of the comedy
:21:02. > :21:06.channel, we provide them with that facility. 90% of all start-ups fail.
:21:07. > :21:12.At what point do you know you're going to be a something ses? I don't
:21:13. > :21:18.think you ever know. You mean Facebook is still worrying? I have
:21:19. > :21:21.been through a start-up before and you never feel confident you've
:21:22. > :21:26.reached that hurdle. We are making sure we continue to build. If we
:21:27. > :21:29.find out about your history, you and your wife are a team that have
:21:30. > :21:35.founded this with another individual. Silicon Valley-based.
:21:36. > :21:39.You've ran a few companies already and been fairly successful. Are you
:21:40. > :21:42.banking on that experience really, I assume to make sure this works? We
:21:43. > :21:46.are banking on our experience, but we put together an incredible team
:21:47. > :21:53.that's behind us that's bringing it to bear. How many does it to take
:21:54. > :21:58.run to something like this? We have 17 employees. That's a lot of
:21:59. > :22:05.people. You have got to fund 17 salaries. I was thinking, back to a
:22:06. > :22:10.question I was asking, when do you start making money? You start making
:22:11. > :22:13.money now. We have some degree of revenue that's coming in on this
:22:14. > :22:17.point on the commission of certain tigting sales, but it will continue
:22:18. > :22:22.to grow as we build a larger user base. Bringing together that amount
:22:23. > :22:26.of content, what we're banking on is the content will drive people being
:22:27. > :22:29.excited about downloading the app and with that comes the advertising
:22:30. > :22:32.revenue. OK, thank you very much indeed.
:22:33. > :22:36.All the best. Thank you very much. We will keep an eye.
:22:37. > :22:41.In a moment we'll take a look through the Business Pages but first
:22:42. > :22:47.here's a quick reminder of how to get in touch with us.
:22:48. > :22:52.The Business Live page is where you can stay ahead with all the day's
:22:53. > :22:59.breaking business news. We'll keep you up-to-date with all the latest
:23:00. > :23:02.details with insight and analysis from the BBC's team of editors
:23:03. > :23:09.around the world and we want to hear from you too. Get involved on the
:23:10. > :23:14.BBC Business Live web page. On Twitter we're at BBC business and
:23:15. > :23:16.you can find us on Facebook. Business Live, on TV and online,
:23:17. > :23:28.whenever you need to know. We were having a debate about
:23:29. > :23:32.whether 17 is a big number or not! It is getting big. When you're
:23:33. > :23:36.responsible for 17 salaries, it keeps you awake at night! It's a lot
:23:37. > :23:40.of people. Anyway, Jeremy is back. We're going to lose time here. So
:23:41. > :23:45.Jeremy, let's talk about the story, the Tesla car. First of all, tell us
:23:46. > :23:49.about what happened to begin with. And then we'll discuss some of our
:23:50. > :23:53.technology mishaps? Tesla cars you can turn it on using your
:23:54. > :23:59.smartphone. This guy who owns a Tesla car took it out to take some
:24:00. > :24:03.photos of the snow in the US, drove into a canyon leaving his car key at
:24:04. > :24:07.home. Took photos and took some lovely photos and got back in the
:24:08. > :24:12.car and couldn't turn his car back on because there was no cell signal.
:24:13. > :24:22.That would happen a lot in this country. Even places like Clapham
:24:23. > :24:29.where you can't get two bars. What happened to you? Uploading
:24:30. > :24:34.personal photos on Twitter. I ordered a disco ball for my son for
:24:35. > :24:40.his party and it arrived and it was this big and it was powered by one
:24:41. > :24:56.AA battery. We came up with a plan. Stephen says, "I left eBay and a
:24:57. > :25:03.colleague clicked buy it now on a ?47,000 plane! " That's brilliant.
:25:04. > :25:08.Let's talk about this deal in the Financial Times, it is a 50 billion
:25:09. > :25:16.euro merger. Jamie and I had to admit we haven't heard of either of
:25:17. > :25:21.these companies and yet they are behind Ray Ban? Every pair of
:25:22. > :25:25.fashionable sunglasses come from either of these companies. These two
:25:26. > :25:33.are quietly getting on a day when they are not mentioned on a day when
:25:34. > :25:41.everyone is talking about Mr Trump? A 50 billion euro tie up. The amount
:25:42. > :25:51.of people who don't wear glasses... Two European companies, Italian and
:25:52. > :25:56.French. Look the brand names, they have Chanel Sun Glass Hut. I wonder
:25:57. > :26:01.if Mr Trump will put taxes on importing those into the States?
:26:02. > :26:04.That's it from Business Live today. There will be more business news on
:26:05. > :26:14.BBC News. See you tomorrow. Good morning to you. This week is
:26:15. > :26:20.going to be very different compared to what we had last week. Much
:26:21. > :26:21.milder. Certainly no snow in the forecast and there is no winter on